RBC Bearings Incorporated (NYSE:RBC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of RBC Bearings Incorporated (NYSE:RBC) have received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $615.44.

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on RBC Bearings from $615.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $686.00 price target on shares of RBC Bearings in a report on Tuesday, August 4th. Royal Bank Of Canada set a $600.00 target price on shares of RBC Bearings in a report on Monday, September 14th. Finally, Raymond James Financial upgraded shares of RBC Bearings from a “market perform” rating to an “outperform” rating and set a $645.00 target price for the company in a report on Monday, August 3rd.

RBC Bearings Trading Down 2.7%

Shares of RBC stock opened at $500.42 on Thursday. RBC Bearings has a 1 year low of $364.50 and a 1 year high of $667.69. The firm has a market capitalization of $15.84 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 2.77 and a beta of 1.38. The stock has a fifty day moving average of $515.66 and a two-hundred day moving average of $563.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 2.53.

RBC Bearings (NYSE:RBC) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.46. The business had revenue of $519.50 million for the quarter, compared to analysts’ expectations of $508.92 million. RBC Bearings had a net margin of 16.40% and a return on equity of 12.06%. The company’s revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.84 earnings per share. As a group, research analysts expect that RBC Bearings will post 14.03 EPS for the current year.

Hedge Funds Weigh In On RBC Bearings

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steph & Co. raised its holdings in RBC Bearings by 24.7% during the 3rd quarter. Steph & Co. now owns 187 shares of the industrial products company’s stock worth $93,000 after buying an additional 37 shares during the period. Argent Capital Management LLC increased its position in shares of RBC Bearings by 4.0% in the third quarter. Argent Capital Management LLC now owns 3,640 shares of the industrial products company’s stock worth $1,817,000 after acquiring an additional 139 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of RBC Bearings by 17.8% in the 2nd quarter. QRG Capital Management Inc. now owns 1,442 shares of the industrial products company’s stock valued at $929,000 after acquiring an additional 218 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in RBC Bearings by 56.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 847 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 306 shares in the last quarter. Finally, Engineers Gate Manager LP raised its stake in RBC Bearings by 2,291.8% during the 2nd quarter. Engineers Gate Manager LP now owns 14,877 shares of the industrial products company’s stock valued at $9,582,000 after purchasing an additional 14,255 shares during the period.

RBC Bearings Company Profile

RBC Bearings Incorporated designs and manufactures highly engineered bearings and related components for demanding aerospace, defense and industrial applications. Its products are used in systems that require precision, reliability and resistance to extreme operating conditions.

The company’s product portfolio includes plain bearings, roller bearings, ball bearings, rod ends, spherical bearings, precision components and other motion-control products. These products support applications such as aircraft structures and flight controls, aircraft engines, landing systems, space systems, military equipment, construction machinery, energy equipment and other industrial systems.

Founded in 1919, RBC Bearings serves original equipment manufacturers and aftermarket customers through operations and sales channels in North America, Europe and Asia.